A new lease on life for beacon of Boston

Deal reached to keep Citgo sign in place

The Citgo sign will remain atop its longtime home in Kenmore Square after the petroleum company reached a deal with its new landlord Wednesday, ending a months-long standoff that had threatened one of the most recognized landmarks of the Boston skyline.

The fate of the rooftop sign had been in question since last year, when the building that hosts it was sold by Boston University to Related Beal, a New York-based development company.

(To be fair graf goes here)

To be fair, the piece by Adam Vaccaro and Tim Logan does include a sort of drive-by disclosure:

The controversy emerged last fall soon after Related Beal bought a total of nine buildings in Kenmore Square from BU for $134 million. Believing its old lease terms of $250,000 to be far below current market rates, the new landlord had wanted Citgo to pay as much as 10 times that amount.

Citgo had previously countered with an offer to pay $500,000, and had launched a public campaign to rally support behind the sign.

Pretty limp, Globeniks. And pretty sad you’re not willing to do the right thing and disclose your financial interest in this story.

But maybe that’s consistent with what editor Brian McGrory said about another recent adberation, which he labeled “part of a larger campaign that is important to the ad client and significant to the Globe.”